New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-03-09

to New-York Harbon At first the reports
gained little bofief perhaps on account
Of the magnitude of the TRANSACTION
and still more perhaps because Of the complete
overthrow ofmany established railroad traditions.
Several persons who were present at Mr.. Garretts
| dinner have admitted since that an offer for the
control of his company was made at that time, but
they say that the price was too high
| 1t is reported that Mr. Garrett then named
225 for the common stock. though the
market price was then only l89. syndi-
cate of capitalists was ready to take the
control Of the property on reasonable terms 1t Is
understood here that Calvin s. Brice and General
Samuel Thomas, with Austin Corbin, Alfred Sully
and other influential il less well known railroad
men behind them. propose to buy the property.
The common stock of the Baltimore and Ohio
Railroad is nearly $4,000, 900. 1t was asserted
IN Wall Street yesterday that the late John w.
Garrett placed about 10000 shares in trust, or in
such condition that they could not be marketed
that the City of Baltimore owned 80. 900 shares,
and that tho Johns Hopkins University owned
about $4,000 shares In reply to q suggestion
that the control of the company appeared to be tied
up person interested in the syndicate operations
remarked:
~ don't care whether the stock belongs to Gar
rett or his aunts and cousins, he is willing to de-
| u
matters of detail. They small things. and have
no doubt that the proposed transfer Will be COM
| pleted within few days"
| 1t has been surmlsed that if the control Of the
railroad company passed into the hands of the SYM
| dicate the change involved harmony at least be-
tween the Western Union Telegraph Company and
the opposition companies. OF which the Baltimore
| and Ohio has been the most active and obstinate
The Baltimore and Ohio Telegraph NAV be leased
to the Western Union. it is said. It may be sold
outright under some agreement to protect the or
binary telegraph business Of the railroad company.
| The executive committee Of the Western Union
| Company. at a meeting yesterday, decided
to recommend to the full board, which
will meet to-day, the retirement OF the
outstanding scrip one quarters dividend Of
100000 declared year ago by an issue
of new stock. There is little donbt that the sug-
gestion will be adopted, and many persons are in
cned to think that the increase OF capital stock
will be made large enough to include the improve
ments of the last six years and possibly the acqul-
| sition of some rival properties.
In connection with these reports il has been ru-
mored for several days that the Commercial Tele-
gram Company, the only rivals OF the Gold and
stock Telegraph Company in the distribution of
Stock Exchange quotations., was about to De reor-
ganIzed. President Anderson. 1t was announced
| yesterday, mas TcsRueu oIucc anu n. DE- sdDu-
ler, president of the Postal Telegraph and Cable
| Company, has been elected in his place. While
this is said to be the only change in the manage
ment contemplated at present. the coincidence did
not pass without remark
GENERAL THOMAS HOPEFUL or SUCCESS.
TnIBUNE reporter found General Samuel F.
Thomas member Of the syndicate. OF his home
No. II West Fifty -seventh-st., last evening. When
informed of the substance OF the dispatch received
from Baltimore. General Thomas said:
81 am not in q position to talk about this trans
action. Tor 1t has not yet been consummated. II Is
idle to expect TO say anything definite. for my
relations with my associates forbid my speaking with
the freedom that | would exercise were the matter
settled. But think am at liberty 10 say that i'm
| portant negotiations are pending which involve n
change in the position of the Baltimore and Ohio
Railroad stock. which heretofore has been held as
family interest, and tho new ownership which is
proposed would bring into the property important
| New-York as we'll other capitalists And the
negotiations not only look TO such distribution of
! control but will involve the Reading, jersey
| Central and Pennsy yyapia railroads and
| the telegraph interests IN relations which
| will tend to assure harmony and
cooperation where before there were disputes and
| disagreement. The project is a large one and II
carried out will result in arrangements which
believe will be conducive to the benefit Of general
| securities see no reason why when an under
standing has been reached, there should not be
gwen to it tho widest publicity for 1t Is In line
with q policy that will be advantageous to the
public as we'll to the interests specially affected.
| The negotiations have made favorable progress
| and have reached stage where think there is
reason to expect that the widest hopes OF those
who are aiming at reconciliation will be realized
"Then you are willing to say that no snags or
distractions have been encountered which look in
surmountable
None whatever" replied General Thomas. II
believe it is only question Of short time when by
some agreement and In some way harmOnizing
of these important interests will DO secured The
idea is not n new one; itwas taken up by we'll
known capitalists more than year ago and has
been in mind more or less since The tendency
in railroad propretes for some time has been to-
ward the substitution Of an inpersonal for a per-
sonal management as most contributive to the
best interests of the public and the owners of rail-
road properties. This principal was first recOg-
nized in the Vanderbilt system aud the Baltimore
and Ohio is really the last company which has kept
its ownership in close hands,
What about the Johns Hopkins stock' Was
that sold recently to Mr.. Garrettr y
81 do not believe" replied General Thomas,
that there is any stock which is IN position
where it cannot be reached and the proposition is
TO secure large, If not = controlling, interest
for distribution. At least so am in
formed, and think you will find that view
Armed by those who are acquainted with the nego-
tations which have been known to many bankers
and CAPITALISTS who are more or less concerned In
tbs arrangements which will produce harmony
among no many important interests"
Alfred Sully declined to give any positive assur-
,nces in regard to tho reported purchase OF the
baltimore and Ohio Railroad. 1T is too early
vot for me TO discuss this subject" he remarked
after some reflections; in o day or two l may be
able to tell you an interesting story.
am bound now by circumstances not to reveal what
neoot,at,ons may be going on You see they NAV